Reliance Jio Impact Top Telecom Companies lose Rs 3000 crore in m-cap

Once again Reliance Jio bring his latest Happy New Year offer for his users. Within 30 minutes announcement by Reliance Jio Chairman Mr. Mukesh Ambani Reliance Jio impact top telecom companies lose Rs 3000 crore in m-cap within a single day.

As per the Reliance Jio Happy New Year offer the last expire date of Reliance Jio Welcome offer extend up to March 2017. This is a great offer for all Reliance Jio users. Reliance Jio Welcome offer is started in Sept, 2016 which provide 90 days free to access 4G Internet, using VoLTE voice calling, video calling feature and send free sms facility.

Reliance Jio Impact Top Telecom Companies lose Rs 3000 crore in m-cap

The top most telecom companies Bharti, Idea Cellular, Airtel and Reliance Communication have the collectively lost up to Rs. 3000 crore in m-cap with a single day. That impact shown on top telecom companies after the 30 minutes announcement of Reliance Jio Chairman Mr. Mukesh Ambani. As per this announcement company bring Happy New Year offer for his customer in which they Reliance Jio Welcome offer is extended up to 31st March, 2017.

After this announcement Idea Cellular, Bharti Airtel and Reliance Communication stocks go down up to 5 percent. The market cap goes down up to 3.55 percent of Idea Cellular, 4.12 percent in Reliance Communication, 1.54 percent in Bharti & Airtel also recorded in the BSE.

As soon as press conference has begun Bharti Airtel, Idea Cellular stocks started to fall down. During the conference Bharti Airtel market cap get goes down up to Rs. 2400 crore while Idea Cellular market cap has been down up to Rs. 800 crore. Both companies lost approx Rs. 3200 crore in market cap with a single day. On the same time RCOM (Reliance Communication) market cap also goes down up to Rs. 250 crore. Due to this announcement it is a big flow for other top telecom companies.